A Calcutta Court recently warned certain officials of UpHealth of arrests noting that they failed to appear before the investigation agency in a case relating to alleged conspiracy to defraud Glocal Healthcare.
The observation came after the court took cognisance of a chargesheet filed by West Bengal CID’s Anti Cheating & Fraud Section.
The chargesheet has been filed against UpHealth Inc, UpHealth Holdings Inc and its officials including Dr Avi S Katz, Raluca Dinu, Martin Samuel Arthur Beck, Ramesh Balakrishnan, Ranjini Ramakrishna and Ajay Arora for offences of Criminal Breach of Trust, Cheating, commission of Criminal Conspiracy etc.
“The charge sheet discloses the commission of serious offences by the accused persons. Now, it appears that the accused persons A3-A8 as mentioned above never appeared before Police authorities. Their presence needs to be secured for the purposes of trial of this case,” the court said.
CJM Barast, North 24 Pargana also asked the state authorities to seem necessary clarification from the High Court, so that the matter be proceeded further by ensuring the presence of Al to A8 (all the accused) during the course of the trial else for issuance of order of attachments and arrest warrants respectively.
The matter arises out of an FIR registered by Glocal Healthcare Systems Pvt Ltd before the Technocity Police Station in West Bengal alleging commission of criminal offences by the UpHealth consortium in relation to a Share Purchase Agreement executed between UpHealth & Glocal in the year 2020.
UpHealth invoked an ICC Arbitration, in which Glocal did not participate on the ground amongst others that this is a matter of Indian Companies Law and the exclusive forum for any such litigation is the NCLT.
The chargesheet places reliance on forensic evidence and concludes that “there is reason to believe that the above noted accused persons, by giving false assurances regarding their financial capabilities, intentionally deceived the complainant into believing that they have sufficient funds amounting to USD 507 million to invest in the Complainant’s company.
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